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S. Korean Firms Told to Boost Investment

South Korea’s acting president Hwang Kyo-Ahn asked the country’s businesses to aggressively boost investment and innovation to create jobs and lead an economic recovery amid uncertainties inside and outside the country, Yonhap reported. “The government feels much regret at having burdened you all and not having provided more support and encouragement,” Hwang said in a New Year’s address, speaking in the stead of President Park Geun-Hye. Park has been impeached by parliament for an influence-peddling scandal and stripped of her powers as she awaits for the Constitutional Court to decide on whether they will uphold the vote. “I earnestly ask all businesses, who play a big role in our economy that investment and innovation be boosted boldly once more so that you will be able to play the lead part in job creation and economic recovery,” Hwang said. As the Trump era officially began on Friday, dealing with US-led trade protectionism and economic uncertainties is becoming the main focus of the South Korean economy.